Virginia-based software maker WebMethods has launched its own charitable foundation with $25 million in company stock and anonymous donations, the Washington Post reported Dec. 18.
The new foundation plans to focus on helping nonprofits that address health care, housing and education.
WebMethods’ foundation will work with and invest in DC Cares, a volunteer coordinating group in the Washington area, to target the charities it wants to assist.
The foundation has also teamed up with Venture Philanthropy Partners, an organization created to channel the wealth of high-tech entrepreneurs toward improving services to youth in the region’s low-income neighborhoods.
WebMethods, which develops software that allows companies to do business with each other over the Internet, also plans to offer its accounting, fundraising and strategic planning expertise to the nonprofits it targets.
For full story, go to the Washington Post.